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Sağlama record · BIST: TTKOM

Türk Telekom

Türk Telekom (TTKOM) shares are not on Borsa Istanbul's participation index list (BIST Participation All Shares) for the period from October 1, 2026 to April 30, 2027. Source: Borsa Istanbul's list of participation index constituents, Oct 1, 2026. In the company's KAFİF declaration for the first half of 2026, the excluded income ratio is 5.35%, against a threshold of 5%.

Dated October 17, 2026No. SGL-2026-6A-TTKOM

Based on the financial statements for the first half of 2026, more than one ratio depends on the company's declaration: the proven amounts alone give ratios below the threshold, and the cautious upper bounds are above it.

This is a measurement, not a religious ruling.

MEASUREMENT TABLE

Interest-bearing loans

depends on the declaration
at most43.9%

Proven lower bound 0.0% · cautious upper bound 43.9%

Calculation and source

Calculation: numerator ÷ denominatorTRY 281,614,321,000÷TRY 641,158,990,000 (total assets)× 100

RatioInterest-bearing loans / total assets

The measurement is a range. The lower bound counts only the amounts that the statements and notes prove; the upper bound also counts, as a precaution, every item that could not be proven. The threshold falls inside this range, so the outcome depends on the company's KAFİF declaration.

Upper bound. Debt items that may count as interest-bearing (line 6I of the KAFİF form) were taken in full from the public statements. Debts proven not to count (line 6J of the KAFİF form) were deducted as far as the notes prove them; items that could not be separated stayed in the numerator, as a precaution. The ratio is therefore an upper bound for the items shown in the financial statements. Note 10: “BTK'ya ödenecek lisans ve imtiyaz borçları (**)” TRY 57,713,175 thousand: undetermined, kept in the upper bound; “Ödenecek vergi ve borçlar” TRY 2,998,313 thousand: not counted (proven); “Hazine Payı tahakkukları” TRY 1,785,317 thousand: undetermined, kept in the upper bound; “BTK katılım payı tahakkukları” TRY 1,577,003 thousand: undetermined, kept in the upper bound; “Evrensel Hizmet Fonu tahakkuku (*)” TRY 930,123 thousand: undetermined, kept in the upper bound; “Diğer borçlar” TRY 607,319 thousand: undetermined, kept in the upper bound; “BTK'ya ödenecek lisans ve imtiyaz borçları (**)” TRY 70,543,847 thousand: undetermined, kept in the upper bound; “Alınan depozito ve teminatlar” TRY 133,585 thousand: undetermined, kept in the upper bound; and 1 more line. Notes that could not be used: Note 7 (Short-term borrowings): the columns of the note's table could not be read reliably. Note 7 (Current portion of long-term borrowings): the columns of the note's table could not be read reliably. Note 7 (Long-term borrowings): an amount in the note is not a whole number. The ratio is in the range 0.00% to 43.92%; the outcome depends on the company's declaration.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY thousand)ClassBasis
BTK'ya ödenecek lisans ve imtiyaz borçları (**) · Other payables, note 1057,713,175undetermined, kept in the upper bound
Ödenecek vergi ve borçlar · Other payables, note 102,998,313not counted (proven)TKBB Guideline 6.2
Hazine Payı tahakkukları · Other payables, note 101,785,317undetermined, kept in the upper bound
BTK katılım payı tahakkukları · Other payables, note 101,577,003undetermined, kept in the upper bound
Evrensel Hizmet Fonu tahakkuku (*) · Other payables, note 10The company's note says: “16 Haziran 2005 tarihinde yayımlanan 5369 sayılı Evrensel Hizmet Fonu’na ilişkin yasaya göre, Türk Telekom ve TTNet her yıl Nisan ayının sonuna kadar bir önceki yıllık net gelirlerinden %1’ini Evrensel Hizmet Fonu adı altında T.C. Ulaştırma ve Altyapı Bakanlığı’na ödemekle yükümlüdür.”930,123undetermined, kept in the upper bound
Diğer borçlar · Other payables, note 10607,319undetermined, kept in the upper boundTKBB Guideline 4.1
BTK'ya ödenecek lisans ve imtiyaz borçları (**) · Other payables, note 10The company's note says: “İmtiyaz uzatım sözleşmesi ve mobil 5G lisans ihalesi kapsamında BTK’ya ödenecek borçların iskonto edilmiş tutarlarından oluşmaktadır. Cari dönemde ilgili borçlar için 8.198.731 TL kur farkı ve 2.283.282 TL iskonto gideri kar veya zarar tablosuna yansıtılmıştır.”70,543,847undetermined, kept in the upper bound
Alınan depozito ve teminatlar · Other payables, note 10133,585undetermined, kept in the upper boundTKBB Guideline 6.1
Diğer Borçlar · Other payables, note 103,369undetermined, kept in the upper boundTKBB Guideline 4.1

KAFİF declaration 22.1% (first half 2026) · Sağlama range 0.0% to 43.9% (first half 2026) · the declaration is inside the range · View the form on KAP

Source: company financial report, first half 2026 statements · Jun 30, 2026

View the documentMethod

Interest-bearing assets

within the threshold
3.8%

Upper bound

Calculation and source

Calculation: numerator ÷ denominatorTRY 24,509,478,000÷TRY 641,158,990,000 (total assets)× 100

RatioInterest-bearing cash and securities / total assets

Upper bound. Asset items that may count as interest-bearing (line 5F of the KAFİF form) were taken in full from the public statements. Assets proven not to count (line 5G of the KAFİF form) were deducted as far as the notes prove them; items that could not be separated stayed in the numerator, as a precaution. The ratio is therefore an upper bound for the items shown in the financial statements. Note 16: “Para piyasası fonları” TRY 10,202 thousand: undetermined, kept in the upper bound; “Yatırım fonları (*)” TRY 707,528 thousand: undetermined, kept in the upper bound; “Diğer (**)” TRY 365,792 thousand: undetermined, kept in the upper bound. Note 6: “Nakit mevcudu” TRY 12,939 thousand: not counted (proven); “Bankadaki nakit - Vadesiz hesap” TRY 3,798,707 thousand: not counted (proven); “Bankadaki nakit - Vadeli hesap” TRY 4,743,139 thousand: counted in the ratio (proven); “Likit Fon (*)” TRY 17,085,812 thousand: undetermined, kept in the upper bound. The ratio is in the range 0.74% to 3.82%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY thousand)ClassBasis
Para piyasası fonları · Financial investments, note 1610,202undetermined, kept in the upper boundTKBB Guideline 5.1
Yatırım fonları (*) · Financial investments, note 16The company's note says: “Grup şirketlerinin TT Ventures Girişim Sermayesi Yatırım Fonu yatırımlarından oluşmaktadır. Söz konusu fon, global büyüme potansiyeline sahip inovatif teknoloji girişimlerine yatırım yapmayı ve yatırımcılarına finansal getiri sağlamayı hedeflemektedir.”707,528undetermined, kept in the upper boundTKBB Guideline 5.1
Diğer (**) · Financial investments, note 16The company's note says: “Diğer içerisinde yer alan 112.150 TL tutarındaki kısmı büyüme sermayesi fon yatırımından oluşmaktadır.”365,792undetermined, kept in the upper boundTKBB Guideline 4.1
Nakit mevcudu · Cash and cash equivalents, note 612,939not counted (proven)TKBB Guideline 5.2
Bankadaki nakit - Vadesiz hesap · Cash and cash equivalents, note 63,798,707not counted (proven)TKBB Guideline 5.2
Bankadaki nakit - Vadeli hesap · Cash and cash equivalents, note 64,743,139counted in the ratio (proven)TKBB Guideline 5.1
Likit Fon (*) · Cash and cash equivalents, note 6The company's note says: “Önemli tutarda değer değişikliği riski taşımayan, yüksek likiditeye sahip, kısa vadeli likit fondan oluşmaktadır.”17,085,812undetermined, kept in the upper boundTKBB Guideline 5.1

KAFİF declaration 3.5% (first half 2026) · Sağlama range 0.7% to 3.8% (first half 2026) · the declaration is inside the range · View the form on KAP

Source: company financial report, first half 2026 statements · Jun 30, 2026

View the documentMethod

Excluded income

depends on the declaration
at most7.1%

Proven lower bound 0.0% · cautious upper bound 7.1%

Calculation and source

Calculation: numerator ÷ denominatorTRY 10,934,983,000÷TRY 153,147,576,000 (total income)× 100

RatioExcluded income / total income

On the KAP form this item is titled “Katılım Finans İlkelerine Uygun Olmayan Gelir”, which means income not in line with participation finance principles.

The measurement is a range. The lower bound counts only the amounts that the statements and notes prove; the upper bound also counts, as a precaution, every item that could not be proven. The threshold falls inside this range, so the outcome depends on the company's KAFİF declaration.

Measured on the items we can calculate. Income items that may count as excluded (line 4C of the KAFİF form) were taken in full from the public statements. The deduction for income that does not count (line 4D of the KAFİF form) is not known and was set to 0. For the income lines that may count (line 4C), the ratio is an upper bound. Excluded income from business activities (line 4B of the KAFİF form) does not appear in the financial statements; it is only in the company's KAFİF declaration on KAP. This measurement sets it to 0. If there is a declaration, the record shows it separately, with a link. Notes that could not be used: Other income from operating activities: no note was found for this item (condensed interim report). Finance income: no note was found for this item (condensed interim report). Income from investing activities: no note was found for this item (condensed interim report). There is no usable evidence from the notes, so the proven amount was set to 0 and the lower bound is 0%. The ratio is in the range 0.00% to 7.14%; the outcome depends on the company's declaration.

KAFİF declaration 5.4% (first half 2026) · Sağlama range 0.0% to 7.1% (first half 2026) · the declaration is inside the range · View the form on KAP

Source: company financial report, first half 2026 statements · Jun 30, 2026

View the documentMethod

The three ratios are calculated from the financial statements, and each bar is scaled to its own threshold. The measurement uses the company's latest published statements, and every record states the period. The official review uses audited six- and twelve-month statements (Standard 3.4), so the periods can differ. Method

This record is produced by Sağlama's calculation from the financial statements the company publishes. The method and the corrections log are public. Responsible for this record: Savaş Tutumlu, founder.

Official list record

Official list
Not on the BIST Participation All Shares list · Index period from October 2026 to April 2027Source: Borsa Istanbul's list of constituents, Oct 1, 2026
Changes this period
These shares are not among the changes Borsa Istanbul announced for this period.Source: Borsa Istanbul announcement, Sep 29, 2026
Next period
Starts on May 1, 2027. Borsa Istanbul is expected to announce the new list by April 29, 2027 at the latest (Ground Rules 2.17).

Status history

7 entries

Each period's record and every correction are kept with their dates. Method

  1. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: at least one ratio above the threshold. Income 8.49% · assets 5.06% · loans 0.00%.
  2. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: at least one ratio above the threshold. Income 8.49% · assets 5.56% · loans 45.35%.
  3. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: depends on the company's declaration. Income 8.49% · assets 5.56% · loans 45.35%.
  4. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: depends on the company's declaration. Income 8.49% · assets 5.05% · loans 44.84%.
  5. Earlier measurementTKBB rules, August 2025, version 2 · Q1 2026: depends on the company's declaration. Income 8.49% · assets 5.05% · loans 44.84%.
  6. Earlier measurementTKBB rules, August 2025, version 2 · first half 2026: depends on the company's declaration. Income 7.14% · assets 3.82% · loans 43.92%.
  7. MeasurementTKBB rules, August 2025, version 3 · first half 2026: depends on the company's declaration. Income 0.00% to 7.14% · assets 0.74% to 3.82% · loans 0.00% to 43.92%. The range crosses the threshold; the outcome depends on the company's declaration.THIS RECORD

Documents and sources

Source links lead to documents published by the company and by Borsa Istanbul. We do not copy KAP documents. Method

  • TTKOM financial report, Jun 30, 2026 (company investor relations site)Jun 30, 2026 · Fingerprint 5b4027839cb9…View the document
  • Sağlama's calculation and methodTKBB rules, August 2025, version 3Read the method

If a figure looks wrong, write to bilgi@saglama.com. We correct it and record the correction with its date in the corrections log.

What this measurement covers

This result says nothing about the quality of the company. It only shows where a measured ratio stands against the threshold.

The company's KAFİF declaration

The company's declaration on the KAP form (first half 2026): excluded income 5.4%, interest-bearing assets 3.5%, interest-bearing loans 22.1%. View the form on KAP

The company's answers to the four yes/no questions on the form:

Do the articles of association of the company, its corporate shareholders or its affiliates include an activity that does not follow participation finance principles?
Yes
Do the company's articles of association grant a privilege that does not follow participation finance principles?
No
Has the company made a statement or decision supporting the actions defined in Standard 1.5 and TKBB Guideline 1.D?
No
Does the company have activities or income directly contrary to participation finance principles?
No

Purification calculation

Dividend-based method · CALCULATOR (DIVIDEND-BASED METHOD)

Purification calculator

A company within the threshold can still have a small amount of excluded income (interest income and other income the standard excludes). Under the TKBB standard, the part of this income that falls to your shares is given to charitable causes. This duty applies whether the company made a profit or a loss, and whether or not it paid a dividend. The amount set aside does not replace zakat or sadaqa.

CALCULATION SLIPTTKOM · first half 2026
Number of shares
500
Gross dividend per share
TRY 2.40
Gross dividend (500 × 2.40)
TRY 1,200.00
Excluded income ratio
7.1%
Purification amount
TRY 85.68

Purification amount = gross dividend × excluded income ratio

The number of shares and the dividend are sample inputs. The ratio comes from the company's measurement. To calculate with your own figures, use the purification page.

Purification amount = gross dividend × excluded income ratio (dividend-based method). Under TKBB Standard 3.6.1, purification is needed even if the company makes a loss or pays no dividend. The method page quotes TKBB Standard 3.6, including the inflation deduction under 3.6.2. This is a cautious calculation. The amount may be higher than the true figure, because it uses all of the interest income, not only the part above inflation. The ratio is the upper bound of the measurement (the lower bound is 0.00%); the purification amount is calculated on the upper bound, as a precaution.

  • Excluded income is the part of a company's earnings that is not in line with participation finance principles. On the KAP form it is called “income not in line with participation finance principles.”
  • Purification is done even if the company makes a loss.
  • Purification is needed even if no dividend is paid. The calculation here uses the dividend-based method. TKBB Standard 3.6 also counts how long you held the shares (the share-days method), which this calculator does not do yet.
  • The purification amount does not replace zakat or sadaqa. Under the TKBB standard, it is given away, not kept.
  • You give the amount yourself, to a charitable cause of your choice. Sağlama does not direct donations.

This calculation uses the dividend-based method. TKBB Standard 3.6 also counts how long you held the shares (the share-days method). The standard is quoted on the method page.

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